ADAR1 Capital Management, LLC

CIK

1940272

Location

AUSTIN, TX

Portfolio Value

Mid $1,609,450,893

Diversification

Diversified

Filing Date

Global Rank

#1,355 / 8,622 ▲ 284 · as of Mar 2026

Top Industry

Biotechnology 88.4%

3Y Alpha vs SPY

+25.8%

Period ended 4 months ago

Filed May 18, 2026 · 2mo

10 quarters · since Dec 2023

Clone Performance

Feb 2024–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Cloned portfolio

+147.4%

SPY

+52.7%

Annualised alpha

+25.8%

Max drawdown

−33.7%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 92% of reported value on average across 10 quarters. Past performance does not predict future results.

Portfolio Concentration

284 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

9.9%

−4.9 pts

Top 5

29.9%

−7.3 pts

Top 10

42.5%

−6.1 pts

HHI

276

Diversified−144

Portfolio Trend

10 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	95.2%	$1,532,497,104	266
Unclassified	3.1%	$49,386,819	1
Financial Services	1.3%	$20,854,064	5
Industrials	0.1%	$1,392,592	2
Technology	0.1%	$1,367,627	5
Basic Materials	0.1%	$1,296,600	1
Communication Services	0.1%	$1,006,302	1
Real Estate	0.1%	$905,190	1
Consumer Cyclical	0.0%	$744,595	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
AVR	Anteris Technologies Global Corp.	+2,550,355	3,789,132	$21,029,682
PLRX	Pliant Therapeutics, Inc.	+2,511,307	2,585,126	$3,257,258
DNLI	Denali Therapeutics Inc.	+1,819,339	1,871,455	$35,931,936
IRD	Opus Genetics, Inc.	+1,809,004	1,849,004	$8,412,968
PEPG	PepGen Inc.	+1,570,796	1,607,638	$2,845,519
OKUR	OnKure Therapeutics, Inc.	+1,420,783	2,434,941	$10,080,655
ABOS	Acumen Pharmaceuticals, Inc.	+1,265,151	2,156,334	$5,088,948
SPRY	ARS Pharmaceuticals, Inc.	+991,967	1,361,536	$10,933,134
CRNX	Crinetics Pharmaceuticals, Inc.	+829,963	1,139,331	$41,380,501
VYNE	VYNE Therapeutics Inc.	+810,108	1,063,899	$636,211
CATX	Perspective Therapeutics, Inc.	+654,142	749,335	$3,124,726
TERN	Terns Pharmaceuticals, Inc.	+573,084	1,114,699	$58,766,931
TSHA	Taysha Gene Therapies, Inc.	+483,620	2,979,429	$13,318,047
STRO	Sutro Biopharma, Inc.	+457,364	524,441	$13,063,825
RLMD	Relmada Therapeutics, Inc.	+421,052	451,918	$3,145,349
REPL	Replimune Group, Inc.	+416,665	1,682,987	$12,874,850
INSP	Inspire Medical Systems, Inc.	+390,197	405,197	$20,900,061
SRRK	Scholar Rock Holding Corp	+337,684	407,273	$20,021,540
LONA	LeonaBio, Inc.	+333,780	727,481	$7,478,504
SYRE	Spyre Therapeutics, Inc.	+304,272	338,323	$17,065,012
ELVN	Enliven Therapeutics, Inc.	+299,540	329,540	$12,917,968
KPTI	Karyopharm Therapeutics Inc.	+291,936	341,936	$1,904,583
PALI	Palisade Bio, Inc.	+260,000	2,264,845	$3,963,478
OVID	Ovid Therapeutics Inc.	+259,113	4,544,113	$10,087,930
SNY	Sanofi	+253,465	316,939	$15,270,121
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
ABUS	Arbutus Biopharma Corp	−2,281,934	3,133,175	$14,099,287
EQ	Equillium, Inc.	−1,881,419	3,726,659	$7,453,318
IKT	Inhibikase Therapeutics, Inc.	−1,457,377	6,606,572	$11,099,040
FULC	Fulcrum Therapeutics, Inc.	−1,188,189	130,560	$1,001,395
CTMX	CytomX Therapeutics, Inc.	−872,579	3,410,190	$16,027,893
ELDN	Eledon Pharmaceuticals, Inc.	−847,391	974,421	$3,001,216
CLYM	Climb Bio, Inc.	−834,813	597,662	$4,093,984
CBIO	Crescent Biopharma, Inc.	−555,727	50,273	$923,515
IVA	Inventiva S.A.	−535,448	2,174,398	$12,067,908
ACRS	Aclaris Therapeutics, Inc.	−481,560	132,426	$496,597
GOSS	Gossamer Bio, Inc.	−423,300	287,531	$94,597
CRVS	Corvus Pharmaceuticals, Inc.	−377,974	87,901	$1,285,991
AQST	Aquestive Therapeutics, Inc.	−244,000	10,000	$41,500
CLDX	Celldex Therapeutics, Inc.	−218,951	427,816	$13,570,323
HELP	Cybin Inc.	−207,112	31,278	$150,134
TARA	Protara Therapeutics, Inc.	−196,287	940,512	$4,900,067
ENGN	enGene Therapeutics Inc.	−170,000	133,686	$910,401
ROIV	Roivant Sciences Ltd.	−143,056	3,285,906	$91,019,596
GERN	Geron Corp	−136,176	200,000	$298,000
LRMR	Larimar Therapeutics, Inc.	−132,944	52,745	$237,352
MAZE	Maze Therapeutics, Inc.	−129,437	50,095	$1,495,335
BBIO	BridgeBio Pharma, Inc.	−119,122	94,292	$7,002,123
RGNX	REGENXBIO Inc.	−100,432	44,416	$372,206
INO	Inovio Pharmaceuticals, Inc.	−90,400	1,470,108	$2,557,987
TNGX	Tango Therapeutics, Inc.	−90,021	50,000	$1,046,000
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
BEAM	Beam Therapeutics Inc.	1,446,375	$34,467,116
VIR	Vir Biotechnology, Inc.	2,744,714	$24,592,637
DBVT	DBV Technologies S.A.	1,012,866	$21,158,770
HLXC	Helix Acquisition Corp. III	1,000,000	$10,160,000
MLTX	MoonLake Immunotherapeutics	477,137	$8,893,833
MPLT	MapLight Therapeutics, Inc.	374,909	$7,621,899
DMRA	Damora Therapeutics, Inc.	279,000	$7,226,100
PRME	Prime Medicine, Inc.	1,973,282	$6,867,021
KRRO	Korro Bio, Inc.	540,054	$6,113,411
INSM	INSMED Inc	35,392	$5,787,299
LLY	ELI LILLY & Co	5,060	$4,654,036
DNTH	Dianthus Therapeutics, Inc. /DE/	55,000	$4,615,600
ONC	BeOne Medicines Ltd.	11,701	$3,474,845
AVBP	ArriVent BioPharma, Inc.	141,814	$3,271,648
ATAI	AtaiBeckley Inc.	913,242	$3,232,876
CAPR	Capricor Therapeutics, Inc.	90,593	$2,754,027
CNTB	Connect Biopharma Holdings Ltd	742,400	$1,945,088
NVO	Novo Nordisk A S	46,000	$1,690,500
FOLD	AMICUS THERAPEUTICS, INC.	105,000	$1,518,300
UNH	Unitedhealth Group Inc	5,501	$1,488,515
SXT	Sensient Technologies Corp	15,000	$1,296,600
MSLE	Satellos Bioscience Inc.	222,555	$1,252,984
PMN	ProMIS Neurosciences Inc.	95,350	$1,210,945
LXRX	Lexicon Pharmaceuticals, Inc.	750,000	$1,170,000
SDGR	Schrodinger, Inc.	101,500	$1,153,040
No positions match the current search.

Sold Out

Positions the filer fully exited

16 positions

Ticker	Company	Shares	Value
BBOT	BridgeBio Oncology Therapeutics, Inc.	226,248	$2,832,624
GRCE	Grace Therapeutics, Inc.	641,988	$2,221,278
OLMA	Olema Pharmaceuticals, Inc.	81,399	$2,034,975
OMER	Omeros Corp	100,000	$1,718,000
UTHR	UNITED THERAPEUTICS Corp	1,900	$925,775
QNRX	Quoin Pharmaceuticals, Ltd.	58,230	$840,258
NGNE	Neurogene Inc.	30,633	$631,039
NVCR	NovoCure Ltd	34,000	$439,620
AUPH	Aurinia Pharmaceuticals Inc.	22,000	$350,900
IDXX	Idexx Laboratories Inc /De	400	$270,612
SPRO	Spero Therapeutics, Inc.	113,839	$265,244
OTLK	Outlook Therapeutics, Inc.	100,000	$158,000
ZONE	CleanCore Solutions, Inc.	521,980	$135,714
SABS	SAB Biotherapeutics, Inc.	26,344	$98,526
IVF	INVO Fertility, Inc.	26,722	$20,121
IOBTQ	IO Biotech, Inc.	24,964	$15,203
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

284 tracked positions · $1,609,450,893 total · filing declares 311 positions · $1,698,675,488 · as of Mar 31, 2026

All sectors Basic Materials Communication Services Consumer Cyclical Financial Services Healthcare Industrials Real Estate Technology

Showing 1–50 of 284 positions by value · page 1 of 6

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
ABVX	Abivax S.A. CALL + SHARES Healthcare	Added	1,438,019	+120,690	$160,123,415	−9.9%	9.95%
PTGX	Protagonist Therapeutics, Inc Healthcare	Reduced	994,119	-55,049	$104,780,142	+14.3%	6.51%
ROIV	Roivant Sciences Ltd. Healthcare	Reduced	3,285,906	-143,056	$91,019,596	+22.3%	5.66%
IMVT	Immunovant, Inc. Healthcare	Added	2,679,010	+198,042	$66,546,608	+5.5%	4.13%
TERN	Terns Pharmaceuticals, Inc. CALL + SHARES Healthcare	Added	1,114,699	+573,084	$58,766,931	+168.6%	3.65%
SPY	Spdr S&P 500 ETF Trust	Added	75,940	+21,256	$49,386,819	+32.4%	3.07%
CYTK	Cytokinetics Inc Healthcare	Added	632,556	+92,390	$41,691,765	+21.5%	2.59%
CRNX	Crinetics Pharmaceuticals, Inc. Healthcare	Added	1,139,331	+829,963	$41,380,501	+187.3%	2.57%
DNLI	Denali Therapeutics Inc. Healthcare	Added	1,871,455	+1,819,339	$35,931,936	+4076.0%	2.23%
BEAM	Beam Therapeutics Inc. Healthcare	NEW	1,446,375	NEW	$34,467,116	NEW	2.14%
ZLAB	Zai Lab Ltd Healthcare	Added	1,425,367	+178,847	$26,811,153	+21.9%	1.67%
SEPN	Septerna, Inc. Healthcare	Reduced	1,089,818	-67,793	$26,188,326	−18.9%	1.63%
VIR	Vir Biotechnology, Inc. Healthcare	NEW	2,744,714	NEW	$24,592,637	NEW	1.53%
DBVT	DBV Technologies S.A. Healthcare	NEW	1,012,866	NEW	$21,158,770	NEW	1.31%
AVR	Anteris Technologies Global Corp. Healthcare	Added	3,789,132	+2,550,355	$21,029,682	+240.2%	1.31%
INSP	Inspire Medical Systems, Inc. Healthcare	Added	405,197	+390,197	$20,900,061	+1410.7%	1.30%
SRRK	Scholar Rock Holding Corp Healthcare	Added	407,273	+337,684	$20,021,540	+553.1%	1.24%
RYTM	Rhythm Pharmaceuticals, Inc. Healthcare	Added	211,450	+160,101	$18,389,806	+234.6%	1.14%
SYRE	Spyre Therapeutics, Inc. Healthcare	Added	338,323	+304,272	$17,065,012	+1429.8%	1.06%
CTMX	CytomX Therapeutics, Inc. Healthcare	Reduced	3,410,190	-872,579	$16,027,893	−12.1%	1.00%
PRTA	Prothena Corp Public Ltd Co Healthcare	Added	1,581,443	+123,679	$15,371,625	+10.4%	0.96%
SNY	Sanofi Healthcare	Added	316,939	+253,465	$15,270,121	+396.4%	0.95%
PCVX	Vaxcyte, Inc. Healthcare	Reduced	259,137	-56,505	$15,058,451	+3.4%	0.94%
MNPR	Monopar Therapeutics Healthcare	Added	264,278	+30,370	$14,479,791	−5.2%	0.90%
ABUS	Arbutus Biopharma Corp Healthcare	Reduced	3,133,175	-2,281,934	$14,099,287	−45.9%	0.88%
AMLX	Amylyx Pharmaceuticals, Inc. Healthcare	Added	1,000,604	+110,248	$13,908,395	+29.3%	0.86%
CLDX	Celldex Therapeutics, Inc. Healthcare	Reduced	427,816	-218,951	$13,570,323	−22.7%	0.84%
TSHA	Taysha Gene Therapies, Inc. Healthcare	Added	2,979,429	+483,620	$13,318,047	−3.0%	0.83%
XENE	Xenon Pharmaceuticals Inc. Healthcare	Added	228,899	+24,930	$13,310,476	+45.6%	0.83%
STRO	Sutro Biopharma, Inc. Healthcare	Added	524,441	+457,364	$13,063,825	+1583.3%	0.81%
RVMD	Revolution Medicines, Inc. Healthcare	Reduced	133,893	-11,186	$13,021,094	+12.7%	0.81%
ELVN	Enliven Therapeutics, Inc. Healthcare	Added	329,540	+299,540	$12,917,968	+2696.1%	0.80%
REPL	Replimune Group, Inc. CALL + SHARES Healthcare	Added	1,682,987	+416,665	$12,874,850	+4.6%	0.80%
CGON	CG Oncology, Inc. Healthcare	Reduced	185,699	-72,440	$12,568,108	+17.3%	0.78%
ESTA	Establishment Labs Holdings Inc. Healthcare	Added	213,473	+42,051	$12,120,996	−3.0%	0.75%
IVA	Inventiva S.A. Healthcare	Reduced	2,174,398	-535,448	$12,067,908	−4.2%	0.75%
IONS	Ionis Pharmaceuticals Inc Healthcare	Added	160,338	+13,208	$12,039,780	+3.4%	0.75%
NKTR	Nektar Therapeutics Healthcare	Added	161,252	+89,221	$11,602,081	+281.0%	0.72%
IKT	Inhibikase Therapeutics, Inc. Healthcare	Reduced	6,606,572	-1,457,377	$11,099,040	−32.9%	0.69%
SPRY	ARS Pharmaceuticals, Inc. Healthcare	Added	1,361,536	+991,967	$10,933,134	+153.9%	0.68%
HLXC	Helix Acquisition Corp. III Financial Services	NEW	1,000,000	NEW	$10,160,000	NEW	0.63%
OVID	Ovid Therapeutics Inc. Healthcare	Reduced	4,544,113	-9,025,053	$10,087,930	−54.4%	0.63%
OKUR	OnKure Therapeutics, Inc. Healthcare	Added	2,434,941	+406,625	$10,080,655	+71.4%	0.63%
REGN	Regeneron Pharmaceuticals, Inc. Healthcare	Added	12,154	+103	$9,390,666	+1.0%	0.58%
MLTX	MoonLake Immunotherapeutics CALL + SHARES Healthcare	NEW	477,137	NEW	$8,893,833	NEW	0.55%
LXEO	Lexeo Therapeutics, Inc. Healthcare	Added	1,467,350	+74,189	$8,422,589	−39.1%	0.52%
IRD	Opus Genetics, Inc. Healthcare	Added	1,849,004	+1,809,004	$8,412,968	+10363.9%	0.52%
TEVA	Teva Pharmaceutical Industries Ltd Healthcare	Added	268,391	+32,420	$8,083,936	+9.8%	0.50%
SVRA	Savara Inc Healthcare	Added	1,464,535	+59,083	$7,996,361	−5.6%	0.50%
MPLT	MapLight Therapeutics, Inc. Healthcare	NEW	374,909	NEW	$7,621,899	NEW	0.47%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.